DISCLAIMER: These regulations are written in Chinese and the English version serves as reference only with proofreading and reversing, the English version strives for accuracy and completeness. If any discrepancies between English version and Chinese version, these regulations shall prevail in Chinese. NCCE takes no responsibility on losses caused by errors and omissions in English version. Disputes over rules and regulations of wording shall be settled in accordance with articles in Chinese version. 中文版
Chapter 1 General Provisions
Article 1 In order to standardize cross-border business activities and protect the legal right of trading parties, NCCE draws up these regulations in compliance with trading rules and regulations, legal law within NCCE. Article 2 These regulations are applicable for trading qualifications and activities of traders within cross-border transaction. Article 3 Trader herein refers to company or agent registered in china or abroad with civil subject qualification forced by law and the company or agent shall possess trading qualification after being approved and register in NCCE. Article 4 NCCE shall supervise and manage the trading qualification and activities of traders in cross-border transaction activities.
Chapter 2 Trading Qualification
Article 5 Requirements for applicants to be a trader: the company or agent 1) Shall have solid spots transaction foundation and its business shall include but not limit production, processing and trade of products specified by NCCE; 2) Possess strong financial strength and fine credit reputation; 3) With no serious records of violation; 4) Promise to follow the rules and regulations of the administrative agreement of NCCE; 5) Other requirements specified by NCCE. Article 6 Traders can conduct cross-border business after they possess trading qualification in accordance with this agreement. Article 7 The procedure of trading qualification is as followed: 1) Traders shall submit application materials as required and be responsible for the legality, compliance, authenticity and validity of it. 2) Market entry agreement and relevant attachments: 3) Traders shall fulfill all the preparation work for application of trading qualification in agreement with regulations in NCCE; 4) NCCE review and investigate trading qualification; qualified trader may acquire trading qualification and open transaction account; while other unqualified traders shall resubmit after making amendments in accordance with the requirements of NCCE. Article 8 Traders shall notice NCCE 5 days in written inform under the following circumstances: 1) Alternation of company title. 2) Alternation of legal representative. 3) Alternation of company address, amount of registered capital and paid-up capital. 4) Alternation of contact information, bank account, billing materials. 5) Alternation of capital transferring and dealer. 6) Alternation of business scope. 7) Serious economic lawsuit of the company. 8) Bankruptcy and dissolution. 9) Penalty resulting from serious violation of rule of laws. 10) Under circumstances of (1) to (6)，traders shall inform NCCE of the relevant alternation procedures.
Chapter 3 Rights and Obligations Article 9 Rights of traders: 1) The right to participate in cross-border transaction in NCCE and acquire relevant information; 2) The right to utilize relevant equipment and enjoy services. 3) The right to have a detailed knowledge about trading subject; 4) The option of trading subject; 5) The right to lodge a complaint and put forward suggestions on misconducts of staff who assist in transaction activities or deliver trading subject in NCCE or the entrusting party. 6) The right to lodge a complaint or report violation of trading and delivery rules. Article 10 Obligations of traders: 1) Follow the rule of laws and regulations in the People’s Republic of China and that of NCCE as well; 2) Read through these regulations and know about trading information, service agreement and purchase and sale list. Strictly obey the trading rules and share risks; 3) Pay margin and trading fees required to NCCE; 4) Files submitted shall be authentic, accurate and complete and fill in these files such as registration paper, contract, customs declaration document and other documents of quality, package and transport. A prompt report to NCCE shall be required to update in case of any alternation; 5) Take good care of the trading account and password and take full responsibility for the consequences of using it. 6) Take good care of equipment in NCCE and take advantage of it properly. Reimburse as full price if damaged. 7) During the performance of contract, perform in strictly with articles in the contract and take relevant responsibility for breach as mentioned in this agreement.
Chapter 4 Suspension and Termination of Trading Qualification
Article 11 NCCE shall suspend trading qualification according to NCCE’s rules and regulations. Article 12 Suspension of trading qualification herein refers that NCCE prevents traders from conducting all cross-border business activities in NCCE platform. Article 13 Suspension is determined as soon as traders are informed of being suspended from NCCE by system or writing notice. Article 14 NCCE is entitled to terminate trading qualification according to relevant regulations. Article 15 Trading qualification herein refers that traders shall not conduct all business activities on NCCE platform since the day that qualification canceled. Article 16 Trading qualification has been suspended since the day NCCE announced on trading system or by written inform. Article 17 The suspended trading account shall not be retained and if the original trader renter the market, he or she shall complete all the relevant procedures in compliance with NCCE regulations. Article 18 Trader shall conclude all transactions and deliveries and clear all charges related once he or she is suspended.
Chapter 5 Trading Principles Article 19 Traders in cross-border transaction basing on the principle of voluntariness participate in transaction and share profits and risks. Traders shall ensure the legality of capital in settlement account. All trading parties shall fully understand, agree and accept all the existing and future rules and regulations of NCCE and have a full knowledge of risks and be willing to take risks. Article 20 According to the arrangement of regulations and agreement, NCCE provides services and support in cross-border transaction. All trading parties shall understand and reach a consensus that NCCE has entitled no trading parties as its agent to trading by no means and NCCE shall never participate in transaction as agent of traders. Article 21 All trading parties shall use trading system appropriately, comprehend the instructions and requirement completely, take good care of the trading accounts and passwords, and be responsible for all the consequences of trading activities. Article 22 Activities that all trading parties shall not participate in: 1) Participation in illegal activities by trading account; 2) Illegal utilization of NCCE’s title or entrustment to conduct business; 3) Refusal on implementing trading restriction forced by NCCE; 4) Violation of trading rules and administrative regulations of NCCE or obligations and other obligations. Chapter 6 Responsibility and Claims
Article 23 All trading parties shall follow these rules and regulations and consent to cooperate with all measures of NCCE. Any refusals shall be handled in accordance with regulations of NCCE. Article 24 All trading parties who have doubts on measures NCCE takes, they could lodge an appeal to NCCE and it will be responded after reviewing. Article 25 All trading parties who have discrepancies on administrative measures of trading qualifications and activities herein or other relevant regulations shall not appeal to petition to lodge claims to NCCE. Chapter 7 Supplementary Regulations
Article 26 Matters related with market entry and other matters not mentioned herein shall be enforced by NCCE regulations. Article 27 NCCE reserves the final interpretation and amendment of these above regulations. Article 28 These regulations will come into effect as of the promulgation day.
Nanning(China--ASEAN) Commodity Exchange August 1st 2016 |
